Store Divestitures

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Store Divestitures

STORE DIVESTITURES

During the third quarter of 2019, we divested two Domestic stores, one Import store, and one collision center, and recognized a net gain of $5.8 million. During the second quarter of 2019, we divested one Import store and recognized a gain of $2.1 million, which was partially offset by a write-down of $0.7 million associated with a store divestiture that closed in the third quarter of 2019. During the first quarter of 2019, we divested two Import stores and recognized a net gain of $8.5 million.

During the third quarter of 2018, we divested one Import store and one Premium Luxury store, and recorded a net gain of $18.1 million. During the second quarter of 2018, we divested one Domestic store and two Import stores, and recognized a net gain of $1.6 million. During the first quarter of 2018, we divested seven Domestic stores, two Import stores, one Premium Luxury store, and one collision center, and recognized a net gain of $6.5 million. Write-downs associated with certain business divestitures that closed during the first quarter of 2018 were previously recorded during the fourth quarter of 2017.

Gains (losses) on divestitures are included in Other Income, Net (within Operating Income) in our Unaudited Condensed Consolidated Statements of Income. The financial condition and results of operations of these businesses were not material to our consolidated financial statements.